MIDEAST STOCKS-Bearish sentiment thwarts mkt rally; Saudi near-flat | Reuters:
"Major Gulf bourses retreated on Monday, erasing some of the previous day's gains with investors unconvinced markets can mount a sustainable rebound.
Riyadh's index was near-flat, slipping 0.02 percent to 5,610 points as day traders booked quick profits to take its 2016 losses to 18.8 percent. It had gained 2.7 percent on Sunday after oil prices rallied late last week, but crude's renewed weakness has again sapped Saudi market confidence.
The petrochemical sector, the main influence on market direction of late, dropped 0.2 percent."
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